Investing Insights: Comparing Q4 2022 vs. Q1 2023 Holdings of Summit Financial Group, Inc.
Ava Hoppe | 1 May, 2023
Summit Financial Group, Inc., a reputable financial institution, recently released its Form 13F for the fourth quarter of 2022 and first quarter of 2023. The report revealed the company’s holdings for the said periods, including the securities added and sold, as well as changes in the market value. This article aims to provide insights into Summit Financial Group’s investment activities and the implications of these changes in the financial market.
Honeywell International Inc. Remains Stable
One of Summit Financial Group's top holdings, Honeywell International Inc. (symbol: HON), remained consistent with 6,282 shares during both Q4 2022 and Q1 2023. The stock, with a value of $1.3 billion, has a 732.1% change. The company is a global leader in providing innovative solutions to sectors such as aerospace, building technologies, and safety.
Microsoft Corp. Continues to Thrive
Microsoft Corporation (symbol: MSFT) remains one of Summit Financial Group's top three holdings in Q1 2023, showing a 15.7% increase in shares from Q4 2022. The software company reported 32,210 shares worth $9.3 billion in Q1 2023 compared to 33,463 shares worth $8 billion in Q4 2022. Microsoft has been issuing dividends for over a decade, making it an attractive blue-chip investment.
SPDR S&P 500 ETF – A Backward Step
Summit Financial Group reduced its holdings in SPDR S&P 500 ETF (SPY) by 1.8% during Q1 2023. The company had 19,762 shares worth $8.1 billion, compared to 20,135 shares worth $7.7 billion in Q4 2022. The change resulted in a 5.1% shift in value. The exchange-traded fund tracks the S&P 500 index, making it an affordable way to track market performance.
Invesco QQQ Trust – A Bullish Sign
The Invesco QQQ Trust (QQQ) appears on Summit Financial Group's list of top holdings for Q1 2023, with 11,468 shares valued at $3.7 billion, a 20.8% increase from the previous quarter. This reflects the growing interest in technology and growth stocks. The trust follows the Nasdaq 100 index, which consists of tech-heavy companies.
Concluding Thoughts
Summit Financial Group’s 13F filings indicate the company's investment activities and portfolio adjustments in Q4 2022 and Q1 2023. The company's top holdings, including Honeywell International Inc. and Microsoft Corporation, remained stable, while its holdings in SPDR S&P 500 ETF reduced. Furthermore, the addition of Invesco QQQ Trust reflects the growing interest in tech and growth stocks. Investors can use this information to gain insight into Summit Financial Group's investment strategy and make informed decisions on their portfolio investment.
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